Announces Closing of Private Placement

EDMONTON, ALBERTA--(Marketwire - Nov. 5, 2012) - Firestone Ventures Inc. (the "Corporation") (News - Market indicators)(FRANKFURT:F5V) announced it has closed a non-brokered private placement offering of 11,380,040 units ("Units") at a price of $0.05 per Unit for gross proceeds of C$569,002. Each Unit will consist of one common share and one common share purchase warrant ("Warrant"). Each Warrant will entitle the holder to purchase one common share at a price of $0.10 per common shares with an expiry date of November 2, 2013. The common shares and Warrants are subject to a four month resale restriction which expires on March 3, 2013. 

The net proceeds from the placement will be used for exploration on existing properties and for general working capital. The Corporation paid finder's fees of $13,265 and issued 265,300 agent's warrants. Each agent warrant has an expiry date of November 2, 2013 and will entitle the holder to purchase one common share at a price of $0.10 per common share. The agent warrants are subject to a four month resale restriction which expires on March 3, 2013.

Completion of the offering is subject to the acceptance of the TSX Venture Exchange.

Firestone Ventures Inc. is a Canadian-based resource exploration and development company with zinc-lead-silver projects in Central America. The common shares are currently listed on the TSX Venture Exchange (symbol FV) and the Frankfurt Stock Exchange (symbol F5V).